What legal safeguards are there ?
A. Property is passed by conveyance of title, which is evidenced by the recording of title deeds and certified survey plans at the registry of title. Once the purchaser has obtained the alien land holding license and agreed to buy, and the vendor agreed to sell, a legal contract has to be drawn up by a lawyer in Grenada, which provides for a deposit to be made to secure the plot and construction. The vendor’s attorney Grant, Joseph & Co. will hold the reservation deposit in escrow until completion of the legal issues are resolved. Note it can take up to 3 months from payment of a reservation deposit until contracts are first exchanged.
